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Bank of America's CEO Brian Moynihan's rough ride

Friday, Jan 06, 2012 - 02:27

Jan. 6 - Bank of America CEO Brian Moynihan faces significant challenges to improve the bank and keep his job.

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We have agreed that investment banking -- in the world we -- a great -- for our customers I think when. You run one man does eggs you confidence that he's just his style isn't one of a great confidence. That this -- that marks the time to be well. And people just don't think he's this article but how it is to do the job property. 20:11 was bright morning on his forty Gillis. The beleaguered Bank of America's CEO was flawed for sticking it to its debit cardholders with a five dollar fee. And saw skittish investors drive down the bank share price. Now he may face an exodus of hundreds of Merrill Lynch brokers jewels in the crown court tired of explaining to clients after stock price -- And indeed the bank is safe one hands competence in leadership have been questioned. He even failed to get any respect from the Federal Reserve which rejected his request to increase the bank's dividend. You would have thought. It was a bit hubris stick to even -- the Federal Reserve they could start paying dividends when east of all these. On quantifiable liabilities that things got worse when the five dollar fee was proposed. Making a late night comedy shows as while driving hundreds of depositors away from the bank. Kid wanna charge me five bucks -- -- candy wanna five bucks meaning get it as it is thought to be that -- of America. That -- has since been scaled back. One hand and BofA got a temporary boost when Warren Buffett chain to the rescue. He brought in Buffett. With a five billion dollar capital injection right which is and also very strong show of support from probably the most influential investor in the world. But the stock kept sliding. At some point the board has got to take. Look at the stock price and the big confidence gap and take action I think right now Brian -- as a window of opportunity. To prove that he can he can be a strong leader I would think it six to twelve months 2012 is a do or die a year from point and and there's no shortage of critics around well. I don't think Brian -- can do it I don't think there's. You know is his Chris phone that is such that he's able to convince the market place that he is in control of this company. And that this company is moving in the right direction. One ahead we'll have a next schedule opportunity to convince the doubters would be a -- earnings come out January 19. Fred Katayama Reuters.

Bank of America's CEO Brian Moynihan's rough ride

Friday, Jan 06, 2012 - 02:27

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